Mortgage Loan Closer - Single Family

As the Mortgage Loan Closer, you are responsible for ensuring the timely and accurate closing of mortgage loan transactions. Responsibilities of the Mortgage Loan Closer include but are not limited to creating an initial, final Closing Disclosure (CD) within compliant time frames and reflecting accurate fees for both borrower and seller, reviewing required closing documents and underwriting approvals to determine accuracy of those documents, reviewing data within the LOS system used to ascertain the accuracy of that data with same documents, creating closing package and communicate with Settlement Agent on closing and any conditions of that closing. This position will be in-office at our Carmel, IN Headquarters. 

In one year as a Mortgage Loan Closer, you will know you were successful if you... 

• Anticipate closing dates for all loans via the Estimated Closing Date in the LOS system, monitoring the progress of loans and the rate lock expiration. Communicate any issues with underwriting and processing.
• Prepare accurate and quality initial CDs (or HUD-1) within compliant time frames and send to borrower and settlement agents.
• Review documents including, but not limited to, purchase agreement, title commitment, homeowner’s insurance, underwriting approval notice, closing protection letter, invoices in the file.
• Coordinate with settlement agent on final figures for the final CD, ensuring that the transaction balances, that all charges have been included and tolerances for each section of the CD have been met.
• Prepare closing packages, choosing the correct loan program and needed documents to go to the closing table for execution.
• Send closing package to settlement agent within a reasonable time frame and within regulatory standards. Communicate with settlement agent to avoid last minute questions.
• Communicate with internal partners (underwriting, processing, sales, post-closing, etc...) Order funds for the disbursement of the loan timely, assuring that funds are available at the closing table.
• Act as “last reviewer” for loan; checking for accuracy and salability.
• Stay knowledgeable about industry updates—compliance and agency (FNMA, FHLMC, FHA, VA, USDA, HELOCs and      Merchants’ Portfolio loans) changes and guidelines.
• Proficiency with Encompass and eClosings is greatly preferred. 

What we are looking for...

• Minimum of five years mortgage banking experience in loan closings, ideally construction. Should be familiar with common mortgage documents.
• Strong math skills and reconciliation skills.
• Attention to detail is required for this position.
• Strong organizational skills required with the ability to prioritize work in order to meet deadlines.
• Must be customer service oriented and able to communicate clearly and concisely.
• Proficient knowledge of MS Word, Excel, and Outlook. Proficiency in Encompass is preferred.

Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.

Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.